- Hollis Johnson
Parag Shah, a longtime executive at world’s largest hedge fund Bridgewater Associates, who often served as the firm’s spokesman, has stepped down, The Wall Street Journal reported.
From the Journal:
“He was part of the management team that interacted with some of the hedge fund’s most important clients, which include public pension funds and other deep pools of money.”
Shah didn’t immediately respond to an email seeking comment.
Shah is the latest high-level employee set to leave. Earlier this year, Bridgewater announced a shakeup on the executive team which included promoting David McCormick to co-CEO, the fifth such CEO since the beginning of last year, per WSJ.
Earlier this year, head of trading Jose Marques was scheduled to step down, Business Insider reported. Jeff Wecker, a former senior manager, also recently left and moved to Goldman Sachs.
Bridgewater manages about $160 billion in assets, and was founded by billionaire Ray Dalio.